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MarketScreener Homepage  >  Equities  >  Xetra  >  Siemens AG    SIE   DE0007236101

SIEMENS AG

(SIE)
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Siemens : Gamesa Shares Drop on Lower 2020 Outlook

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11/05/2019 | 05:30am EST

By Kim Richters

Shares in Siemens Gamesa Renewable Energy traded sharply lower on Tuesday after the turbine maker said its profitability in the next fiscal year will weaken.

For its 2020 financial year, the Spanish company expects an adjusted margin on earnings before interest and taxes of 5.5%-7%, compared with 7.1% achieved in the fiscal year ended Sept. 30. For the just ended financial year, the margin outlook range was 7%-8.5%.

The company expects full-year revenue of between 10.20 billion and 10.60 billion euros ($11.39 billion-$11.83 billion) compared with fiscal 2019 revenue of EUR10.23 billion.

At 1009 GMT, shares in the company traded 8.4% lower at EUR11.78.

The company, majority-owned by Siemens AG, said price pressure is weighing on profitability despite good prospects in the industry. It has embarked on a restructuring program that has helped it save a cumulative EUR1.4 billion.

To improve competitiveness, Siemens Gamesa said it would cut 600 white-collar jobs over the next two years.

The new guidance is below expectations, Renta 4 Banco analyst Angel Perez Llamazares said.

Write to Kim Richters at kim.richters@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
SIEMENS AG 0.57% 116.8 Delayed Quote.19.94%
SIEMENS GAMESA RENEWABLE ENERGY 1.78% 14.61 End-of-day quote.37.31%
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Financials (EUR)
Sales 2020 89 398 M
EBIT 2020 7 617 M
Net income 2020 5 432 M
Debt 2020 25 007 M
Yield 2020 3,42%
P/E ratio 2020 17,5x
P/E ratio 2021 15,4x
EV / Sales2020 1,34x
EV / Sales2021 1,23x
Capitalization 94 838 M
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 125,78  €
Last Close Price 116,80  €
Spread / Highest target 28,4%
Spread / Average Target 7,69%
Spread / Lowest Target -12,7%
EPS Revisions
Managers
NameTitle
Josef Kaeser President & Chief Executive Officer
Jim Hagemann Snabe Chairman-Supervisory Board
Roland Emil Busch Deputy CEO, Chief Operating & Technology Officer
Ralf Peter Thomas Chief Financial Officer
Helmuth Ludwig Chief Information Officer
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